Balance transfer

angiesavemoney

Hi, just some advice, i have had an 0% offer from Barclaycard for a balance transfer, i have some money on this card already due to an existing offer coming to an end. could i transfer this amount to another card which has no balance on and then transfer back to Barclaycard so that i can us the offer.

I have looked at their terms and conditions and could not find anything that would relate to this or says i can't do this.

PS SORRY POSTED IN THE WRONG PLACE PREVIOUSLY:(

blacksta

Yes you can - but you will be exposed to three lots balance transfer fees - Which i might still be a lower interest compared to standard rates of cards for the lifetime of the debt.

thenudeone

blacksta wrote: »

Yes you can - but you will be exposed to three lots balance transfer fees

Surely it's only two lots - once to transfer it to another card, and once to transfer it back to BC where the 0% offer is.

blacksta

thenudeone wrote: »

Surely it's only two lots - once to transfer it to another card, and once to transfer it back to BC where the 0% offer is.

Sorry my bad - THought the poster also wanted to transfer to bank account.

CreditCruncher

Sorry to hijack the thread but I have had a similar offer from BC offering me 0% for 9 months for Balance Transfers.

I already have a balance (0% for 22 months) on this card but have enough credit limit to transfer more from a Santander card on which I would have to start paying interest from next month.

How would BC allocate the minimum payments (DD for set amount in my case) if I used this 9 months offer i.e., would the payments be used to pay off the existing balance? If that is the case, I would have to pay interest on the second transfer I am planning to do after 9 months,wouldn't I?

Many thanks for any help on this!

udydudy

As all providers now need to adhere to a positive payment heirarchy, the promotional balance expiring the earliest will be allocated payments before any other promotional balances with later expiry.
so IMHO your payments would be allocated to the BT Fee and then the 9 month promotional offer.

CreditCruncher

udydudy wrote: »

so IMHO your payments would be allocated to the BT Fee and then the 9 month promotional offer.

Thanks udydudy :T

CreditCruncher

How long does it actually take for BC balance transfers to go through and appear as credit on the transferring card's balance? The website says 5-8 days but is it any faster in reality?